Should you’re undecided about paying for FX Replay otherwise you’re already a person and are on the lookout for one thing totally different, then this quick record will present you one of the best options which will fit your wants higher.
I have been utilizing and reviewing buying and selling software program since 2007 and my purpose is to provide the finest FX Replay options based mostly on my expertise, and assist forestall you from losing your cash on inferior merchandise.
I will present each free and paid choices.
Alright, let’s get into it…
The Backside Line
Should you simply need a abstract of the small print beneath, listed here are my picks for one of the best free and paid options.
Finest Free
MetaTrader 4 and 5
I’ve used MetaTrader since 2007 and it is one of the best free choice for Foreign exchange merchants who do not wish to pay for software program. Here is the way it compares to FX Replay.
- Completely free software program
- Free historic information
- Guide backtesting is gradual as a result of it’s a must to use a spreadsheet
- Straightforward to make use of interface
- Works finest on Home windows, however can be utilized on Mac and Linux through VM
Finest Paid
NakedMarkets
NakedMarkets was launched in 2021 and has turn out to be probably the greatest backtesting software program options for Foreign exchange merchants. That is the way it stacks up.
- One-time value, no subscription payment
- Up to date historic information included, no subscription payment
- Quickest backtesting answer, with drag-and-drop, no-code Guidelines, for partial or absolutely automated backtesting
- Superior analytics instruments
- Works finest on Home windows, however can be utilized on Mac and Linux through VM
If you need extra particulars, here is what you could learn about every various.
Paid FX Replay Options
There are numerous paid backtesting options for Foreign exchange merchants.
I’ve filtered the record down to those 3 finalists.
Earlier than I get began, you is perhaps questioning why TradingView is not on this record.
Since FX Replay provides options on high of the TradingView chart interface, I will not embody TradingView on this record. FX Replay gives much more handbook backtesting advantages in comparison with TradingView, so there isn’t any have to record TradingView.
NakedMarkets (Finest Paid FX Replay Various)
NakedMarkets is my favourite handbook and automatic backtesting software program.
It is a significantly better selection than FX Replay.
The first advantages are a one-time payment, superior analytics and the flexibility to construct automated backtests with none coding information.
You’ll be able to learn my full assessment of NakedMarkets right here.
Advantages Comparability
Downsides Comparability
- Not browser based mostly
- Home windows based mostly or Mac/Linux through VM
Be taught extra about NakedMarkets right here.
Foreign exchange Tester
Foreign exchange Tester isn’t fairly pretty much as good as NakedMarkets, but it surely’s nonetheless a really strong selection.
I’ve used it for a very long time and solely switched to NakedMarkets not too long ago.
By way of the way it compares to FX Replay, here is what you could know.
Advantages Comparability
- One-time software program value
- Comparatively cheap
- Skill to backtest MetaTrader EAs
- Straightforward to make use of interface
Downsides Comparability
- Historic information subscription is paid
- Not browser based mostly
- Home windows based mostly or Mac/Linux through VM
Soft4FX
I am not a fan of Soft4FX, but it surely does fill a reputable area of interest on this record.
I’ve bought and used it up to now.
This can be a plugin for MT4 and MT5 that can flip these platforms into handbook backtesting software program platforms.
Here is the way it compares.
Advantages Comparability
- Low, one-time value
- You get free information out of your MetaTrader feed
Downsides Comparability
- A bit complicated to put in and use
- No browser choice, may not work with a VM
- FX Replay has barely higher reporting
Free FX Replay Options
It is really a detailed name within the free division.
These 2 platforms each have their advantages and disadvantages, however after some cautious consideration, here is the one I might use if I used to be going to go the free route.
MetaTrader 4 or 5 (Finest Free FX Replay Various)
These platforms are very related, so I will embody them collectively.
MT4 has extra customized indicators and EA out there, however MT5 is a more recent platform and can be utilized to commerce extra markets.
Choose the one that you simply like higher.
For handbook backtesting functions, they’re equal.
Advantages Comparability
- Free information software program
- Free historic information
- Many customized indicators and EAs out there on-line
Downsides Comparability
- A lot slower backtesting than FX Replay as a result of you could use a spreadsheet
- No built-in stat monitoring and evaluation
- Not fairly as straightforward to make use of
- Not browser based mostly, Home windows is finest
Merchants Health club in ThinkTrader
Merchants Health club is a free backtesting software program that I’ve featured a few occasions on my YouTube channel.
It is a respectable free answer as a result of it has extra built-in backtesting options than MetaTrader.
But it surely does have some limitations that makes MetaTrader a better option.
You’ll be able to discover ways to use it on this tutorial.
Here is the way it compares to FX Replay.
Advantages Comparability
Downsides Comparability
- Pauses typically when it loses web connection
- Not as many markets out there
- Interface isn’t as intuitive as FX Replay
- A bit clunky to make use of
- Not browser based mostly
FX Replay Evaluate
If you have not checked out FX Replay but, here is my abstract assessment of the software program and what I consider it.
Full disclosure, I’ve solely tried the free model, however I’ve additionally researched it extensively.
I have been doing this lengthy sufficient that I do know what to search for.
Primarily based on my evaluation and former expertise with backtesting software program, I did not see any motive to change from what I at present use.
Advantages
- Out there on any laptop through a browser. No clunky software program to put in.
- They use TradingView charts, that are one of the best browser-based buying and selling charts on the planet.
- The platform gives further backtesting upgrades on high of the advantages of TradingView charts.
- Customized indicators can be found, a few of which aren’t out there on different platforms.
- Big selection of markets out there.
Downsides
- It’s a subscription service, so for those who ever resolve to change platforms, you may lose your backtesting information.
- Restricted evaluation metrics.
- No automation instruments.
- The interface is a bit of too easy, not sufficient options.
Ultimate Ideas
So these are one of the best choices for those who’re on the lookout for backtesting software program that is an alternative choice to FX Replay.
Primarily based on my intensive analysis of the product, it would not have the identical advantages of the paid options on this record.
Nevertheless, I am certain that they are going to be including new options into the long run, so I look ahead to seeing what they provide you with.
Remember the fact that expertise can change rapidly, so my evaluation is predicated on the knowledge out there on the time this was written.
Disclaimer: Some hyperlinks on this web page are affiliate hyperlinks. We do make a fee if you buy via these hyperlinks, but it surely doesn’t value you something additional and we solely promote services that we wholeheartedly imagine in.
